BillMatrix Offers ATM Card for Mortgage Payments

BillMatrix Corporation, Dallas, has launched a program to utilize the ATM electronic funds networks for mortgage payments taken over the telephone and Internet without a personal identification number.BillMatrix said it recently implemented the service with a major mortgage servicer, but did not name the lender. The client was looking to accelerate cash flow and provide customers with a convenient, secure means to make payments, the company said. Leveraging the rapidly increasing use of debit cards for utility, insurance and other bills was a natural extension of the mortgage servicer's automatic recurring ACH service, BillMatrix said. The servicer benefits because the ATM system virtually eliminates returned checks, according to the company.